The principal difference between public and privately held companies is that public companies have shares that can be publicly traded on a stock market. A privately held company might become a publicly held company by conducting an initial public offering, which is the offering of shares of the company to the public.
Answer:
The journal entry is shown below:
Explanation:
The journal entry which is to be recorded on the date of payment is as:
Cash A/c...........................................................Dr $2,009
Sales Discount A/c.........................................Dr $41
Accounts Receivable- Hubbard Incorporated A/c..........Cr $2,050
As the goods sold by company, so they received cash and any increase in assets account is debited. Therefore, the cash account is debited. And the company also offered discount which is also debited and the account of accounts receivable is credited.
Working Note:
Amount of cash received = (Sold merchandise amount - Return goods amount) - 2% on amount
= ($2,400 - $350) - 2% on amount
= $2,050 - 2% × $2,050
= $2,050 - 41
= $2,009
Answer:(1) The HR professional should have read the company policy and employment contract of each employees (2) Proper employees files should be maintained (3) order a reverse of the 11 percent pay increase untill the issue leading to the increase is looked into (4) The grievance will be on employee compensation and benefit (5) I will use the employee grievance process .
Explanation:
The human resources management is the process of supporting the accomplishment of organization objective by recruiting the needed human resources into the organization, integrating them into the organization as well as developing their potential for the overall benefit of the organization. The human resources management department is responsible for the personnel matters in the organization. In every organization, they usually have a company policy which is focused on how to resolve employees grievance in the organization. Therefore, as regard the case under review the HR professional should do the following to handle the issue at hand
(1) The HR manager should read the company policy on how a pay raise should be given to each employees, in addition to this the HR manager must also read the employment contract of each employees in order to know if the employees actually deserve a pay raise.
(2) with a view to prevent this in the future, the HR professional should ensure that employees files are properly maintained and before a pay raise can be granted to any employees in the future it should be in accordance with the contract agreement surrounding pay increases.
(3) The 11 percent pay raise that was already promised to the employees will be order to reversed back to the status quo untill the matter is looked into holistically to know if the employee actually deserve to have a pay raise in accordance with contract agreement surrounding pay increases.
(4) The grievance would be a formal notice to the management to register their dissatisfaction as regard the pay increase granted to only one employee that does not go across board.
(5) I will settle the grievances before involving other members of the grievance committee, I will then held a meeting with the representatives of the workers in private.then if the issue cannot be resolved at that level, I will investigate the matter further and the result will be made known to the workers and if the workers is not satisfied the matter will go to the management level where the fact of the matter will be looked into and a decision will be made to settle the grievance.
